Fresh consignments of India’s pomegranates and kiwi fruit exports have hit the Dubai market, opening new markets for the country’s farmers, backed by the Centre’s Agricultural and Processed Food Products Export Development Authority (APEDA).

APEDA has facilitated the export of 1.3 metric tonnes (MT) of Sinduri variety pomegranates from Himachal Pradesh’s Kullu district and the trial export of 1.5 metric tonnes (MT) of kiwi from Arunachal Pradesh’s Ziro to Dubai in the United Arab Emirates (UAE), according to a Commerce Ministry statement issued on Tuesday.

The consignment of pomegranates, comprising 650 boxes of 2 kg each, was exported by Uttar Pradesh-based Amama Exports. The initiative connects local growers and a Farmer Producer Organisation (FPO) with an exporter, creating opportunities for Himachal Pradesh’s horticultural produce to access international markets. The pomegranates were sourced directly from local farmers and the Bhuntar FPO, which is associated with approximately 600 farmers. The Kullu district horticulture administration supported the initiative by facilitating procurement and coordination, the statement said.

The initiative demonstrates the role of direct procurement and collective participation through FPOs in strengthening market linkages for farmers. The export enabled participating farmers to achieve 50 per cent higher price realisation compared with the prevailing domestic market benchmark.

The Sinduri variety is among the pomegranate varieties grown in Himachal Pradesh, alongside Bhagwa and Kandhari. Known for its attractive red skin, juicy arils, and sweet-tart flavour, Sinduri pomegranates are suitable for fresh consumption and offer potential for export markets.

The trial export consignment of 1.5 metric tonnes (MT) of kiwi from Arunachal Pradesh successfully reached Dubai and was showcased at LuLu Hypermarket in Al Qusais. The initiative marks a step towards assessing the fruit’s potential in international markets.

The initiative, undertaken under the Ministry of Development of North Eastern Region (MDoNER), seeks to promote and strengthen Arunachal Pradesh’s kiwi sector under the branding initiative “Kiwi: USP of Arunachal Pradesh”. Implemented in collaboration with the state government, the initiative aims to introduce the state’s kiwis to international markets, assess consumer response and develop stronger market linkages to expand export opportunities for local growers.

Arunachal Pradesh’s high-altitude growing conditions and natural environment support the cultivation of kiwi with distinctive fruit quality and flavour. The state’s produce offers potential in premium domestic markets, export promotion and value-added products. The major varieties grown in the region include Hayward, Monty, Allison and Bruno, with the Hayward variety showing good demand in international markets.

The initiative also seeks to connect local kiwi growers with potential overseas markets, creating additional sales channels and opportunities for improved farmer returns through future shipments. The trial export is expected to provide a basis for assessing market response and identifying requirements for expanding the presence of Arunachal Pradesh kiwi in international markets.

Indian equity markets opened higher on Tuesday for the second consecutive day this week amid declining crude prices, strong Q2 earnings and foreign investors turning buyers.

Sensex jumped as much as 0.87 per cent or over 600 points to hit an intraday high of 76,358.79 in early deals.

Nifty traded at 23,610.70, an increase of 0.72 per cent or about 170 points.

On the sectoral front, financial services led the gains as Nifty Financial Services ex-Bank jumped 1 per cent.

Meanwhile, Nifty Chemicals, Nifty FMCG and Nifty Media surged up to 0.77 per cent. Private bank, cement, information technology (IT) and consumer durables indices were also trading in the green.

On the other hand, healthcare and energy stocks witnessed profit booking.

Analysts said that circumstances are ideal for the continuation of the ongoing market rally.

“Decline in Brent crude to $104, further weakening of the AI trade, continuing flow of good Q2 results and foreign institutional investors (FIIs) turning buyers have potential to accelerate the ongoing rally,” they said.

The market experts also said Nifty has reclaimed its 50-day EMA near 23,170, while RSI improved to 61.03, above its average of 47.90, indicating strengthening momentum. PCR at 1.28 also reflects a positive derivatives setup. Immediate support is placed at 23,200-23,300, while resistance is seen at 23,600-23,700.

“Massive value buying along with big short covering leads to such sharp surges in stocks, even in megacaps. The takeaway from this experience is that patient value buying will be rewarded,” according to them.

Analysts added that short positions in many quality large-caps, created by bears on expectations of continued FII selling are now unwinding as circumstances change. While the AI trade has slightly weakened, it is only a correction, not yet a crash, and results of many AI companies continue to be good.

On Monday, FIIs continued their buying momentum for the second consecutive session, recording net equity purchases of Rs 3,114 crore. Domestic institutional investors (DIIs) remained net sellers for the second straight session with outflows of Rs 392 crore.

Moreover, the results of the US mid-term elections due tomorrow and its impact on geopolitical dynamics will be keenly watched by the market in the coming days.

The ED attached immovable and movable properties worth Rs 53.95 crore in a bank fraud by a private company that resulted in a loss of over Rs 2,200 crore to a consortium of banks led by Indian Overseas Bank and 16 other banks, an official said on Monday.

The Directorate of Enforcement (ED), Mumbai Zone-I, provisionally attached the assets of Parekh Aluminex Limited (PAL) under the provisions of the Prevention of Money Laundering Act. (MLA), 2002.

Till date, the ED has attached total assets of Rs 546 crore in this case, the statement said.

The ED investigation was initiated on the basis of an FIR registered by CBI, EOW Mumbai and EOB Mumbai against Parekh Aluminex Limited, and others for offences under Sections 420 and 120-BIPC, 1860 and Sections 13(1)d) and 13(2) of the Prevention of Corruption Act, 1988.

Investigation has revealed that PAL fraudulently obtained loan from a consortium of banks by submitting inflated stock and debtor statements and later loan accounts of PAL were declared NPA for an amount of Rs 2,296 crore, the ED said.

The ED’s Investigation revealed that JK Shah Group assisted in the diversion of the Proceeds of Crime amounting to Rs 110.54 crore through various entities and persons.

One of the beneficiaries of the Proceeds of Crime received and enjoyed Rs 70.25 crore, forming part of the total Proceeds of Crime of Rs 2,296.58 crore, the ED said.

The ED had already attached assets worth Rs 493 crore in this case. A prosecution complaint (charge sheet) has also been filed before the Special Court (PMLA), Mumbai, which has taken cognisance of the offence, said the statement.

The conspirators inflicted a wrongful loss on a consortium of banks led by Indian Overseas Bank and 16 other banks, and the ED is examining the incriminating documents recovered during search operations to identify other players in the bank fraud, said the statement.